Is Fast Loan Advance Legit? Are you interested in taking a loan with Fasloanadvanced.com but still skeptical about whether the website is legit? Don’t worry, a lot of people have been there too that is why these Fast Loan Advance reviews will be doing justice to your predicament as many have had some experience with this loan company.
The US has the best credit facilities in the world. There are a lot of financial companies in the country with a lot of them targeted at providing personal loans to individuals who are in need in the form of payday loans, cash advances, device refinancing, credit cards and so much more. Fast Loan Advance has also contributed to that market today.
If you know the company, you’ll always find yourself there anytime you search for fast loan advances near me which would always take you to good loan companies that would save you from the mess.
What is Fast Loan Advance?
FastLoanAdvance company claims they make getting quick cash loans faster and in a simplified way by providing your details to their online algorithms to detect your creditworthiness. It is not clear if this loan company can give you a loan with a bad credit score but it uses a form to capture your details and return the amount you can borrow at the moment.
Fast Loan Advance can borrow you from $1000 to a maximum of $35,000 with interest rates starting from as low as 8% when you borrow a higher amount of money.
In a nutshell, Fastloanadvane.com website is a website that affiliates with other credit facility companies to match borrowers with lenders to make financial inclusion seamless. They use some algorithm that detects your creditworthiness and prequalifies you before pushing you to interested lenders who can further decide whether or not they are going to offer you the loan you are asking for or not.
Once you are qualified, Fast Loan Advance will not be the one to disburse the money but the company that finds you worthy of the loan request which makes Fastloanadvance.com a middleman in the loan business.
Is Fast Loan Advance Legit?
Yes, Fast Loan Advance is legit. FastLoanAdvance.com website is very legit to the nature of the business they do. The company does not offer loans but they rely on other lenders to give loans. Also, Fast Loan Advance’s interest rate is too high but the company is definitely not a scam from the look of things we believe they earn their own commission standing as middlemen in the loan business.
We don’t recommend taking our words as a guarantee to whether Fast Loan Advance is a scam or a legit website but recommend you make your own due diligence before taking a loan.
According to their website, Fasloanadcance verified that they are not a direct lender but appear to be a loan broker for many lending companies and therefore they can’t guarantee your APR which can change anytime based on their direct lender’s terms and conditions.
Fast Loan Advance Review
In this Fast Loan Advance review, you’ll be made to understand everything that the lending platform stands for and how you can use it to get a quick emergency loan.
The truth about Fast Loan Advance is that it is not a loan company on its own. It partners with other loan companies and as such it doesn’t have control over the kind of quality and guaranteed services it provides to its customers. When you request a loan, their system pulls all the lending partners who would be interested in giving you a loan based on the amount you requested and other information that you provided.
After this, lenders can decide to accept your loan request and approve it or simply reject it. According to the lending company, as stated on their legal model, only the lending partner can decide the rates for a loan, and that only happens after you have submitted your application.
Only a lender or lending partner can provide you with information on their rates and terms. This will typically happen shortly after your loan request is complete, and you are connected with a lender or lending partner.
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FastLoanAdvance also made it clear to prospects that every lending decision is made only by the lending partners and cannot be influenced by their company. This so is clear so you understand what the company is all about.
FastLoanAdvance does not make credit decisions or determine rates and terms. Remember, you are under no obligation to accept the loan offer if the terms are not satisfactory for whatever reason.
Pros of Fastloanadvance.com
1. Instant Review & Approval: Fastloanadvance.com would instantly use its advanced algorithms to detect if you are qualified for a loan or not and give you feedback after signing up. The data you provide would scan their advertiser’s database and know which partner is willing to offer you a loan based on your provided data.
2. Convenience: of course online lending platforms would give you convenience at all costs because they allow you to complete your transactions all in the comfort of your home without going to any bank to fill any paper. Fastloanadvance.com may provide a simple and streamlined application process, allowing borrowers to submit their loan requests online.
3. Accessibility: With fastloanadvance.com you would discover more relatable eligibility criteria compared to traditional banks, making it easier for you to get a loan without too much paperwork.
4. Flexible Loan Options: Depending on the specific offerings of Fastloanadvance.com, they may provide a range of loan options to suit different borrower needs, such as short-term loans, installment loans, or payday loans as far as they have advertisers in these various categories.
Cons of Fastloanadvance.com
1. High-Interest Rates: No doubt, the interest rates offered by Fast Loan Advance seems higher than the rate the actual lender might be charging. This is not clear to us because we have not tried them out yet. It’s crucial to carefully review the interest rates and terms offered by Fastloanadvance.com to ensure they align with your financial capabilities.
2. Potential for Predatory Practices: Some online lending platforms have been associated with predatory lending practices, such as hidden fees, aggressive collection tactics, or misleading terms.
FastLoanAdvance Loan Requirments
FastLoanAdvance said it makes it very fast and simple to access loans although it had to wait for the lending partners to accept you or not. However, below are the requirements to access the FastLoanAdvance loan.
- Before taking a loan you must be above 18 years old.
- The loans are only available to U.S. citizens or you must possess a permanent resident.
- You must be employed with steady inflows to qualify.
- You must own a bank account in the US to receive the funds with a preference to direct deposit.
FastLoanAdvance Interest Rates, Fees, and Tenures
Although FastLoanAdvance doesn’t provide direct loans. However, below are the loan tenors as displayed on their website.
| LOAN AMOUNT | $1,000 | $2,000 | $5,000 | $10,000 |
| INTEREST RATE | 24% | 19% | 13% | 8% |
| LOAN TERM | 12 Months | 24 Months | 48 Months | 60 Months |
| FEE | 3% | 5% | 8% | 10% |
| FEE COST | $30 | $100 | $400 | $1,000 |
| REPAYMENT | $94.56 | $100.82 | $131.67 | $202.28 |
| APR | 29.82% | 24.12% | 18.23% | 9.20% |
| TOTAL PAYMENTS | $1,134.72 | $2,419.68 | $6,320.12 | $12,136.80 |
| TOTAL COSTS | $164.72 | $519.68 | $1,720.12 | $3,136.80 |
Is Fast Loan Advance A Legit Site?
Yes, Fast Loan Advance is a legit site. The site connects lending companies and borrowers together to make lending and borrowing money fast and simple for both the lender and the borrower. To get started you need to visit their website at www.fastloanadvance.com and get started.
In Conclusion
The truth is that Fast Loan Advance is legit. However, they are a brokerage that links you to direct lenders. You need to understand the nature of their business that they only stand as a brokerage to loan companies and can’t give you a direct loan. You can use their platform to borrow money from other lenders and repay back in order to build your credit scores.
But this platform won’t be able to provide you with a loan. It might be time-consuming to be using Fast Loan Advance because obviously, there are other apps like Solo which can provide you with a loan instantly with bad credit.
